Interest on sticky advances credited to memorandum account is not taxable. Followed UCO Bank v. CIT (1999) 237 ITR 889 (SC). (AY.1982-83)
CIT v. Citi Bank N. A. (NO. 3) (2024)469 ITR 403 (SC) Editorial : CIT v. Citi Bank N. A ITR No. 191 of 1997 dt. 10-4-2003(Bom)(HC)
S. 4 : Charge of income-tax-Accrual-Interest on sticky advances credited to memorandum account is not taxable. [S. 145, Art. 136]
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